UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM N-PX ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANIES Investment Company Act File Number: 811-4547 Exact Name of Registrant as Specified in Charter: Voyageur Mutual Funds III Address of principal executive offices: 2005 Market Street Philadelphia, PA 19103 Name and address of agent for service: Richelle S. Maestro 2005 Market Street Philadelphia, PA 19103 Registrant's telephone number: (800) 523-1918 Date of fiscal year end: April 30 Date of reporting period: July 1, 2004 - June 30, 2005 ================================================================================ ITEM 1. PROXY VOTING RECORD. ================================================================================ ========================= DELAWARE SELECT GROWTH FUND ========================== ACCENTURE LTD BERMUDA Ticker: ACN Security ID: G1150G111 Meeting Date: FEB 2, 2005 Meeting Type: Annual Record Date: DEC 6, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Joe W. Forehand For For Management 1.2 Elect Director Blythe J. Mcgarvie For For Management 1.3 Elect Director Sir Mark Moody-Stuart For For Management 2 Approval Of Bye-Law Amendments To For For Management Relocate Into The Bye-Laws Existing Contractual Restrictions Applicable To Class A Common Shares Of Partners And Former Partners Beneficially Owned By Them Prior To Accenture S Initial Public Offering. 3 Ratify Auditors For For Management - -------------------------------------------------------------------------------- AFFILIATED MANAGERS GROUP, INC. Ticker: AMG Security ID: 008252108 Meeting Date: JUN 1, 2005 Meeting Type: Annual Record Date: APR 15, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Richard Floor For Withhold Management 1.2 Elect Director Sean M. Healey For Withhold Management 1.3 Elect Director Harold J. Meyerman For For Management 1.4 Elect Director William J. Nutt For Withhold Management 1.5 Elect Director Robert C. Puff, Jr. For For Management 1.6 Elect Director Rita M. Rodriguez For For Management 2 Amend Executive Incentive Bonus Plan For For Management 3 Ratify Auditors For For Management - -------------------------------------------------------------------------------- AMDOCS LIMITED Ticker: DOX Security ID: G02602103 Meeting Date: JAN 20, 2005 Meeting Type: Annual Record Date: NOV 24, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Bruce K. Anderson For For Management 1.2 Elect Director Adrian Gardner For For Management 1.3 Elect Director Dov Baharav For For Management 1.4 Elect Director Julian A. Brodsky For For Management 1.5 Elect Director Charles E. Foster For For Management 1.6 Elect Director Eli Gelman For For Management 1.7 Elect Director James S. Kahan For For Management 1.8 Elect Director Nehemia Lemelbaum For For Management 1.9 Elect Director John T. Mclennan For For Management 1.10 Elect Director Robert A. Minicucci For For Management 1.11 Elect Director Simon Olswang For For Management 1.12 Elect Director Mario Segal For For Management 2 Approval Of Consolidated Financial For For Management Statements For Fiscal Year 2004. 3 Ratification And Approval Of Ernst & For For Management Young Llp And Authorization Of Audit Committee Of Board To Fix Remuneration. - -------------------------------------------------------------------------------- AMERITRADE HOLDINGS CORP. Ticker: AMTD Security ID: 03074K100 Meeting Date: FEB 16, 2005 Meeting Type: Annual Record Date: DEC 20, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director J. Joe Ricketts For For Management 1.2 Elect Director Dan W. Cook III For For Management 2 Ratify Auditors For For Management 3 Other Business For Against Management - -------------------------------------------------------------------------------- ANALOG DEVICES, INC. Ticker: ADI Security ID: 032654105 Meeting Date: MAR 8, 2005 Meeting Type: Annual Record Date: JAN 14, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director John L. Doyle For For Management 1.2 Elect Director Christine King For For Management 1.3 Elect Director Ray Stata For For Management 2 Ratify Auditors For For Management 3 Expense Stock Options Against For Shareholder - -------------------------------------------------------------------------------- ANIMAS CORP. Ticker: PUMP Security ID: 03525Y105 Meeting Date: MAY 17, 2005 Meeting Type: Annual Record Date: MAR 21, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Graeme Crothall For Withhold Management 1.2 Elect Director David Joseph For For Management 1.3 Elect Director A. Peter Parsons For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- BED BATH & BEYOND INC. Ticker: BBBY Security ID: 075896100 Meeting Date: JUL 1, 2004 Meeting Type: Annual Record Date: MAY 5, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Warren Eisenberg For For Management 1.2 Elect Director Victoria A. Morrison For For Management 1.3 Elect Director Stanley Barshay For For Management 1.4 Elect Director Fran Stoller For For Management 1.5 Elect Director Jordan Heller For For Management 2 Ratify Auditors For For Management 3 Approve Omnibus Stock Plan For For Management 4 Glass Ceiling Against Against Shareholder 5 Adopt Retention Ratio for Executives Against For Shareholder - -------------------------------------------------------------------------------- BED BATH & BEYOND INC. Ticker: BBBY Security ID: 075896100 Meeting Date: JUN 30, 2005 Meeting Type: Annual Record Date: MAY 5, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Leonard Feinstein For For Management 1.2 Elect Director Robert Kaplan For For Management 1.3 Elect Director Dean S. Adler For For Management 1.4 Elect Director Jordan Heller For For Management 2 Ratify Auditors For For Management 3 Adopt ILO-based Code of Conduct Against For Shareholder 4 Review/Limit Executive Compensation Against For Shareholder 5 Declassify the Board of Directors Against For Shareholder - -------------------------------------------------------------------------------- BROADCOM CORP. Ticker: BRCM Security ID: 111320107 Meeting Date: APR 28, 2005 Meeting Type: Annual Record Date: MAR 4, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director George L. Farinsky For Withhold Management 1.2 Elect Director John Major For Withhold Management 1.3 Elect Director Scott A. McGregor For For Management 1.4 Elect Director Alan E. Ross For For Management 1.5 Elect Director Henry Samueli, Ph.D. For For Management 1.6 Elect Director Robert E. Switz For Withhold Management 1.7 Elect Director Werner F. Wolfen For Withhold Management 2 Amend Omnibus Stock Plan For Against Management 3 Ratify Auditors For For Management 4 Link Executive Compensation to Social and Against For Shareholder Financial Issues - -------------------------------------------------------------------------------- CAPITALSOURCE, INC Ticker: CSE Security ID: 14055X102 Meeting Date: APR 27, 2005 Meeting Type: Annual Record Date: MAR 1, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Frederick W. Eubank, II For Withhold Management 1.2 Elect Director Jason M. Fish For For Management 1.3 Elect Director Timothy M. Hurd For For Management 1.4 Elect Director Dennis P. Lockhart For For Management - -------------------------------------------------------------------------------- CERTEGY INC Ticker: CEY Security ID: 156880106 Meeting Date: MAY 24, 2005 Meeting Type: Annual Record Date: MAR 28, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Charles T. Doyle For For Management 1.2 Elect Director Kenneth A. Guenther For For Management 1.3 Elect Director Keith W. Hughes For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- CHARLES SCHWAB CORP., THE Ticker: SCH Security ID: 808513105 Meeting Date: MAY 19, 2005 Meeting Type: Annual Record Date: MAR 21, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Frank C. Herringer For For Management 1.2 Elect Director Stephen T. McLin For Withhold Management 1.3 Elect Director Charles R. Schwab For For Management 1.4 Elect Director Roger O. Walther For For Management 1.5 Elect Director Robert N. Wilson For For Management 2 Amend Omnibus Stock Plan For For Management 3 Approve Executive Incentive Bonus Plan For For Management 4 Declassify the Board of Directors Against For Shareholder - -------------------------------------------------------------------------------- CHESAPEAKE ENERGY CORP. Ticker: CHK Security ID: 165167107 Meeting Date: JUN 10, 2005 Meeting Type: Annual Record Date: APR 26, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Aubrey K. McClendon For For Management 1.2 Elect Director Donald L. Nickles For For Management 2 Approve Omnibus Stock Plan For For Management 3 Approve Stock Option Plan For Against Management - -------------------------------------------------------------------------------- CISCO SYSTEMS, INC. Ticker: CSCO Security ID: 17275R102 Meeting Date: NOV 18, 2004 Meeting Type: Annual Record Date: SEP 20, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Carol A. Bartz For For Management 1.2 Elect Director M. Michele Burns For For Management 1.3 Elect Director Larry R. Carter For For Management 1.4 Elect Director John T. Chambers For For Management 1.5 Elect Director Dr. James F. Gibbons For For Management 1.6 Elect Director Dr. John L. Hennessy For For Management 1.7 Elect Director Roderick C. McGeary For For Management 1.8 Elect Director James C. Morgan For For Management 1.9 Elect Director John P. Morgridge For For Management 1.10 Elect Director Donald T. Valentine For For Management 1.11 Elect Director Steven M. West For For Management 1.12 Elect Director Jerry Yang For For Management 2 Ratify Auditors For For Management 3 Report on Pay Disparity Against Against Shareholder - -------------------------------------------------------------------------------- CITY NATIONAL CORP. Ticker: CYN Security ID: 178566105 Meeting Date: MAY 4, 2005 Meeting Type: Annual Record Date: MAR 15, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Richard L. Bloch For For Management 1.2 Elect Director Bram Goldsmith For For Management 1.3 Elect Director Robert H. Tuttle For For Management 1.4 Elect Director Kenneth Ziffren For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- CONCEPTUS, INC. Ticker: CPTS Security ID: 206016107 Meeting Date: MAY 26, 2005 Meeting Type: Annual Record Date: APR 15, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Michael A. Baker For For Management 1.2 Elect Director M.-Helene Plais-Cotrel For For Management 1.3 Elect Director Peter L. Wilson For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- CORILLIAN CORP Ticker: CORI Security ID: 218725109 Meeting Date: MAY 9, 2005 Meeting Type: Annual Record Date: MAR 15, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Robert G. Barrett For For Management 1.2 Elect Director Alex P. Hart For For Management 1.3 Elect Director Tyree B. Miller For For Management 1.4 Elect Director James R. Stojak For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- CORNING INC. Ticker: GLW Security ID: 219350105 Meeting Date: APR 28, 2005 Meeting Type: Annual Record Date: MAR 1, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director John Seely Brown For For Management 1.2 Elect Director Gordon Gund For For Management 1.3 Elect Director John M. Hennessy For For Management 1.4 Elect Director H. Onno Ruding For For Management 2 Approve Omnibus Stock Plan For For Management 3 Ratify Auditors For For Management - -------------------------------------------------------------------------------- CV THERAPEUTICS INC. Ticker: CVTX Security ID: 126667104 Meeting Date: MAY 26, 2005 Meeting Type: Annual Record Date: MAR 31, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Santo J. Costa For For Management 1.2 Elect Director John Groom For For Management 1.3 Elect Director Barbara J. McNeil, M.D., For For Management Ph.D. 2 Amend Omnibus Stock Plan For For Management 3 Ratify Auditors For For Management - -------------------------------------------------------------------------------- DOLLAR GENERAL CORP. Ticker: DG Security ID: 256669102 Meeting Date: MAY 24, 2005 Meeting Type: Annual Record Date: MAR 21, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director David L. Bere For For Management 1.2 Elect Director Dennis C. Bottorff For For Management 1.3 Elect Director Barbara L. Bowles For For Management 1.4 Elect Director James L. Clayton For For Management 1.5 Elect Director Reginald D. Dickson For For Management 1.6 Elect Director E. Gordon Gee For For Management 1.7 Elect Director Barbara M. Knuckles For For Management 1.8 Elect Director David A. Perdue For For Management 1.9 Elect Director J. Neal Purcell For For Management 1.10 Elect Director James D. Robbins For For Management 1.11 Elect Director David M. Wilds For For Management 2 Approve Executive Incentive Bonus Plan For For Management 3 Ratify Auditors For For Management - -------------------------------------------------------------------------------- E.I. DU PONT DE NEMOURS & CO. Ticker: DD Security ID: 263534109 Meeting Date: APR 27, 2005 Meeting Type: Annual Record Date: MAR 7, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Alain J.P. Belda For For Management 1.2 Elect Director Richard H. Brown For For Management 1.3 Elect Director Curtis J. Crawford For For Management 1.4 Elect Director John T. Dillon For For Management 1.5 Elect Director Louisa C. Duemling For For Management 1.6 Elect Director Charles O. Holliday, Jr. For For Management 1.7 Elect Director Lois D. Juliber For For Management 1.8 Elect Director Masahisa Naitoh For For Management 1.9 Elect Director William K. Reilly For For Management 1.10 Elect Director H. Rodney Sharp, III For For Management 1.11 Elect Director Charles M. Vest For For Management 2 Ratify Auditors For For Management 3 Report on Government Service of Employees Against Against Shareholder 4 Implement ILO Code of Conduct Against Against Shareholder 5 Executive Compensation Against Against Shareholder 6 Eliminate Animal Testing Against Against Shareholder 7 Report on Genetically Modified Organisms Against Against Shareholder 8 Performance- Based/Indexed Options Against Against Shareholder 9 Report on PFOA Chemical Remediation Against Against Shareholder - -------------------------------------------------------------------------------- EDUCATE INC Ticker: EEEE Security ID: 28138P100 Meeting Date: JUN 6, 2005 Meeting Type: Annual Record Date: APR 15, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Douglas Becker For Withhold Management 1.2 Elect Director Laurence Berg For Withhold Management 1.3 Elect Director Michael F. Devine, III For For Management 1.4 Elect Director Michael Gross For Withhold Management 1.5 Elect Director R.C. Hoehn-Saric For Withhold Management 1.6 Elect Director David Hornbeck For For Management 1.7 Elect Director Cheryl Gordon Krongard For For Management 1.8 Elect Director Aaron Stone For Withhold Management 1.9 Elect Director Raul Yzaguirre For Withhold Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- EMC CORP. Ticker: EMC Security ID: 268648102 Meeting Date: MAY 5, 2005 Meeting Type: Annual Record Date: MAR 7, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Michael J. Cronin For For Management 1.2 Elect Director W. Paul Fitzgerald For Withhold Management 1.3 Elect Director Joseph M. Tucci For For Management 2 Approve Omnibus Stock Plan For For Management 3 Ratify Auditors For For Management 4 Performance- Based/Indexed Options Against For Shareholder 5 Creation of an Independent Audit Against Against Shareholder Committee - -------------------------------------------------------------------------------- FIRST HORIZON PHARMACEUTICAL Ticker: FHRX Security ID: 32051K106 Meeting Date: MAY 31, 2005 Meeting Type: Annual Record Date: APR 15, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Pierre Lapalme For For Management 1.2 Elect Director William J. Robinson For For Management 1.3 Elect Director Patrick J. Zenner For Withhold Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- FISHER SCIENTIFIC INTERNATIONAL INC. Ticker: FSH Security ID: 338032204 Meeting Date: AUG 2, 2004 Meeting Type: Annual Record Date: MAY 14, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Issue Shares in Connection with an For For Management Acquisition 2.1 Elect Director Michael D. Dingman For For Management 2.2 Elect Director Charles A. Sanders M.D. For For Management 3 Ratify Auditors For For Management 4 Adjourn Meeting For Against Management - -------------------------------------------------------------------------------- FISHER SCIENTIFIC INTERNATIONAL INC. Ticker: FSH Security ID: 338032204 Meeting Date: MAY 6, 2005 Meeting Type: Annual Record Date: MAR 22, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Rosanne F. Coppola For For Management 1.2 Elect Director Bruce L. Koepfgen For For Management 1.3 Elect Director Paul M. Meister For For Management 1.4 Elect Director W. Clayton Stephens For For Management 1.5 Elect Director Richard W. Vieser For For Management 2 Approve Omnibus Stock Plan For For Management 3 Ratify Auditors For For Management - -------------------------------------------------------------------------------- HURON CONSULTING GROUP, INC. Ticker: HURN Security ID: 447462102 Meeting Date: MAY 3, 2005 Meeting Type: Annual Record Date: MAR 14, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director George E. Massaro For For Management 1.2 Elect Director Paul G. Yovovich For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- INVITROGEN CORP. Ticker: IVGN Security ID: 46185R100 Meeting Date: APR 20, 2005 Meeting Type: Annual Record Date: FEB 22, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Balakrishnan S. Iyer For For Management 1.2 Elect Director Ronald A. Matricaria For For Management 1.3 Elect Director W. Ann Reynolds, Ph.D. For For Management 1.4 Elect Director Jay M. Short, Ph.D. For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- JACK HENRY & ASSOCIATES, INC. Ticker: JKHY Security ID: 426281101 Meeting Date: OCT 26, 2004 Meeting Type: Annual Record Date: SEP 20, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director J. Henry For For Management 1.2 Elect Director J. Hall For For Management 1.3 Elect Director M. Henry For For Management 1.4 Elect Director J. Ellis For For Management 1.5 Elect Director B. George For For Management 1.6 Elect Director J. Maliekel For For Management 1.7 Elect Director C. Curry For For Management - -------------------------------------------------------------------------------- JUNIPER NETWORKS, INC. Ticker: JNPR Security ID: 48203R104 Meeting Date: MAY 18, 2005 Meeting Type: Annual Record Date: MAR 21, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director William R. Hearst III For For Management 1.2 Elect Director Kenneth Goldman For For Management 1.3 Elect Director Frank Marshall For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- LEHMAN BROTHERS HOLDINGS INC. Ticker: LEH Security ID: 524908100 Meeting Date: APR 5, 2005 Meeting Type: Annual Record Date: FEB 11, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Michael L. Ainslie For For Management 1.2 Elect Director John F. Akers For For Management 1.3 Elect Director Richard S. Fuld, Jr. For For Management 2 Ratify Auditors For For Management 3 Approve Omnibus Stock Plan For Against Management 4 Limit Executive Compensation Against Against Shareholder - -------------------------------------------------------------------------------- LOWE'S COMPANIES, INC. Ticker: LOW Security ID: 548661107 Meeting Date: MAY 27, 2005 Meeting Type: Annual Record Date: APR 1, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Robert A. Ingram For For Management 1.2 Elect Director Richard K. Lochridge For For Management 1.3 Elect Director Robert L. Johnson For For Management 2 Amend Non-Employee Director Stock Option For For Management Plan 3 Ratify Auditors For For Management - -------------------------------------------------------------------------------- MANPOWER INC. Ticker: MAN Security ID: 56418H100 Meeting Date: APR 26, 2005 Meeting Type: Annual Record Date: FEB 15, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director J. Thomas Bouchard For For Management 1.2 Elect Director Rozanne L. Ridgway For For Management 1.3 Elect Director Edward J. Zore For For Management 2 Amend Qualified Employee Stock Purchase For For Management Plan 3 Amend Omnibus Stock Plan For For Management - -------------------------------------------------------------------------------- MARRIOTT INTERNATIONAL INC. (NEW) Ticker: MAR Security ID: 571903202 Meeting Date: MAY 6, 2005 Meeting Type: Annual Record Date: MAR 15, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director J.W. Marriott, Jr. For For Management 1.2 Elect Director Debra L. Lee For For Management 1.3 Elect Director George Munoz For For Management 1.4 Elect Director William J. Shaw For For Management 2 Ratify Auditors For For Management 3 Amend Omnibus Stock Plan For Against Management 4 Declassify the Board of Directors Against For Shareholder 5 Require a Majority Vote for the Election Against For Shareholder of Directors - -------------------------------------------------------------------------------- MARTEN TRANSPORT, LTD. Ticker: MRTN Security ID: 573075108 Meeting Date: MAY 3, 2005 Meeting Type: Annual Record Date: MAR 17, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Randolph L. Marten For Withhold Management 1.2 Elect Director Larry B. Hagness For Withhold Management 1.3 Elect Director Thomas J. Winkel For For Management 1.4 Elect Director Jerry M. Bauer For Withhold Management 1.5 Elect Director Christine K. Marten For Withhold Management 2 Approve Omnibus Stock Plan For For Management 3 Increase Authorized Common Stock For For Management 4 Ratify Auditors For For Management - -------------------------------------------------------------------------------- MCDONALD'S CORP. Ticker: MCD Security ID: 580135101 Meeting Date: MAY 11, 2005 Meeting Type: Annual Record Date: MAR 14, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Hall Adams, Jr. For For Management 1.2 Elect Director Cary D. McMillan For For Management 1.3 Elect Director Michael J. Roberts For For Management 1.4 Elect Director James A. Skinner For For Management 1.5 Elect Director Anne-Marie Slaughter For For Management 2 Ratify Auditors For For Management 3 Report on Genetically Modified Organisms Against Against Shareholder - -------------------------------------------------------------------------------- MEDICIS PHARMACEUTICAL CORP. Ticker: MRX Security ID: 584690309 Meeting Date: NOV 17, 2004 Meeting Type: Annual Record Date: OCT 8, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Jonah Shacknai For For Management 1.2 Elect Director Michael A. Pietrangelo For For Management 1.3 Elect Director Lottie H. Shackelford For For Management 2 Approve Stock Option Plan For For Management 3 Ratify Auditors For For Management - -------------------------------------------------------------------------------- MICREL, INC. Ticker: MCRL Security ID: 594793101 Meeting Date: MAY 26, 2005 Meeting Type: Annual Record Date: APR 1, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Raymond D. Zinn For For Management 1.2 Elect Director Warren H. Muller For For Management 1.3 Elect Director George Kelly For Withhold Management 1.4 Elect Director Donald H. Livingstone For Withhold Management 1.5 Elect Director David W. Conrath For For Management 2 Ratify Auditors For For Management 3 Amend Omnibus Stock Plan For Against Management - -------------------------------------------------------------------------------- NEKTAR THERAPEUTICS Ticker: NKTR Security ID: 640268108 Meeting Date: JUN 2, 2005 Meeting Type: Annual Record Date: APR 4, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Michael A. Brown For For Management 1.2 Elect Director Ajit S. Gill For For Management 1.3 Elect Director Joseph J. Krivulka For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- NETWORK APPLIANCE, INC. Ticker: NTAP Security ID: 64120L104 Meeting Date: SEP 2, 2004 Meeting Type: Annual Record Date: JUL 8, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Daniel J. Warmenhoven For For Management 1.2 Elect Director Donald T. Valentine For For Management 1.3 Elect Director Carol A. Bartz For For Management 1.4 Elect Director Mark Leslie For For Management 1.5 Elect Director Nicholas G. Moore For For Management 1.6 Elect Director Sachio Semmoto For For Management 1.7 Elect Director George T. Shaheen For For Management 1.8 Elect Director Robert T. Wall For For Management 2 Amend Omnibus Stock Plan For Against Management 3 Amend Employee Stock Purchase Plan For For Management 4 Ratify Auditors For For Management - -------------------------------------------------------------------------------- NORDSTROM, INC. Ticker: JWN Security ID: 655664100 Meeting Date: MAY 24, 2005 Meeting Type: Annual Record Date: MAR 16, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Phyllis J. Campbell For For Management 1.2 Elect Director Enrique Hernandez, Jr. For For Management 1.3 Elect Director Jeanne P. Jackson For For Management 1.4 Elect Director Robert G. Miller For For Management 1.5 Elect Director Blake W. Nordstrom For For Management 1.6 Elect Director Bruce A. Nordstrom For For Management 1.7 Elect Director John N. Nordstrom For For Management 1.8 Elect Director Alfred E. Osborne, Jr., For For Management Ph.D. 1.9 Elect Director Alison A. Winter For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- NORTHERN TRUST CORP. Ticker: NTRS Security ID: 665859104 Meeting Date: APR 19, 2005 Meeting Type: Annual Record Date: FEB 28, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Duane L. Burnham For For Management 1.2 Elect Director Susan Crown For For Management 1.3 Elect Director Robert A. Helman For For Management 1.4 Elect Director Dipak C. Jain For For Management 1.5 Elect Director Arthur L. Kelly For For Management 1.6 Elect Director Robert C. McCormack For For Management 1.7 Elect Director Edward J. Mooney For For Management 1.8 Elect Director William A. Osborn For For Management 1.9 Elect Director John W. Rowe For Withhold Management 1.10 Elect Director Harold B. Smith For For Management 1.11 Elect Director William D. Smithburg For For Management 1.12 Elect Director Charles A. Tribbett III For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- NUVELO, INC. Ticker: NUVO Security ID: 67072M301 Meeting Date: MAY 24, 2005 Meeting Type: Annual Record Date: MAR 31, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Mary K. Pendergast For For Management 1.2 Elect Director Dr. George B. Rathmann, For For Management Ph.D. 2 Amend Qualified Employee Stock Purchase For For Management Plan 3 Ratify Auditors For For Management - -------------------------------------------------------------------------------- PARTNERRE LTD (FRM. PARTNERRE HOLDINGS LTD. ) Ticker: PRE Security ID: G6852T105 Meeting Date: MAY 10, 2005 Meeting Type: Annual Record Date: MAR 21, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Judith Hanratty For For Management 1.2 Elect Director Remy Sautter For For Management 1.3 Elect Director Patrick A. Thiele For For Management 1.4 Elect Director Jurgen Zech For For Management 2 To Approve The Partnerre Ltd. 2005 For For Management Employee Equity Plan And The Reservation Of 1,000,000 Additional Common Shares For Issuance Under The 2005 Employee Equity Plan. 3 To Approve An Increase In The Authorized For For Management Share Capital Of The Company From Us$150,000,000 To Us$200,000,000 By The Creation Of 50,000,000 Undesignated Shares Par Value Us$1.00 Per Share. 4 Ratify Auditors For For Management 5 Other Business For Against Management - -------------------------------------------------------------------------------- PEPSICO, INC. Ticker: PEP Security ID: 713448108 Meeting Date: MAY 4, 2005 Meeting Type: Annual Record Date: MAR 11, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director John F. Akers For For Management 1.2 Elect Director Robert E. Allen For For Management 1.3 Elect Director Ray L. Hunt For For Management 1.4 Elect Director Arthur C. Martinez For For Management 1.5 Elect Director Indra K. Nooyi For For Management 1.6 Elect Director Steven S Reinemund For For Management 1.7 Elect Director Sharon P. Rockefeller For For Management 1.8 Elect Director James J. Schiro For For Management 1.9 Elect Director Franklin A. Thomas For For Management 1.10 Elect Director Cynthia M. Trudell For For Management 1.11 Elect Director Solomon D. Trujillo For For Management 1.12 Elect Director Daniel Vasella For For Management 2 Ratify Auditors For For Management 3 Report on Corporate Political Against Against Shareholder Contributions - -------------------------------------------------------------------------------- PETSMART Ticker: PETM Security ID: 716768106 Meeting Date: JUN 23, 2005 Meeting Type: Annual Record Date: APR 25, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director L.A. Del Santo For For Management 1.2 Elect Director P.L. Francis For For Management 1.3 Elect Director G.P. Josefowicz For For Management 1.4 Elect Director R.K. Lochridge For For Management 1.5 Elect Director A.I. Khalifa For For Management 2 Ratify Auditors For For Management 3 Increase Authorized Common Stock For For Management - -------------------------------------------------------------------------------- PROTEIN DESIGN LABS, INC. Ticker: PDLI Security ID: 74369L103 Meeting Date: JUN 8, 2005 Meeting Type: Annual Record Date: APR 25, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Jon S. Saxe, Esq. For Withhold Management 1.2 Elect Director L. Patrick Gage, Ph.D. For For Management 2 Approve Omnibus Stock Plan For For Management 3 Amend Non-Employee Director Stock Option For For Management Plan 4 Change Company Name For For Management 5 Ratify Auditors For For Management 6 Adjourn Meeting For Against Management - -------------------------------------------------------------------------------- RADIAN GROUP INC. Ticker: RDN Security ID: 750236101 Meeting Date: MAY 10, 2005 Meeting Type: Annual Record Date: MAR 11, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director David C. Carney For For Management 1.2 Elect Director Howard B. Culang For For Management 1.3 Elect Director Stephen T. Hopkins For For Management 1.4 Elect Director Sanford A. Ibrahim For For Management 1.5 Elect Director James W. Jennings For For Management 1.6 Elect Director Roy J. Kasmar For For Management 1.7 Elect Director Ronald W. Moore For For Management 1.8 Elect Director Jan Nicholson For For Management 1.9 Elect Director Robert W. Richards For For Management 1.10 Elect Director Anthony W. Schweiger For For Management 1.11 Elect Director Herbert Wender For For Management 2 Approve Omnibus Stock Plan For For Management 3 Ratify Auditors For For Management - -------------------------------------------------------------------------------- RED HAT, INC. Ticker: RHAT Security ID: 756577102 Meeting Date: SEP 21, 2004 Meeting Type: Annual Record Date: JUL 26, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Gen. H. Hugh Shelton For For Management 1.2 Elect Director Eugene J. Mcdonald For For Management 1.3 Elect Director Matthew J. Szulik For For Management 2 Ratify Auditors For For Management 3 Approve Omnibus Stock Plan For For Management - -------------------------------------------------------------------------------- ROYAL CARIBBEAN CRUISES LTD. Ticker: RCL Security ID: V7780T103 Meeting Date: MAY 17, 2005 Meeting Type: Annual Record Date: MAR 24, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Laura Laviada For For Management 1.2 Elect Director Eyal Ofer For For Management 1.3 Elect Director William K. Reilly For For Management 1.4 Elect Director Arne A. Wilhelmsen For For Management 2 Ratification Of Appointment Of For For Management Pricewaterhousecoopers Llp As The Company S Independent Registered Accounting Firm For 2005. - -------------------------------------------------------------------------------- STAPLES, INC. Ticker: SPLS Security ID: 855030102 Meeting Date: JUN 13, 2005 Meeting Type: Annual Record Date: APR 19, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Brenda C. Barnes For For Management 1.2 Elect Director Mary Elizabeth Burton For For Management 1.3 Elect Director Richard J. Currie For For Management 1.4 Elect Director Rowland T. Moriarty For For Management 2 Amend Omnibus Stock Plan For For Management 3 Ratify Auditors For For Management 4 Submit Shareholder Rights Plan (Poison Against Against Shareholder Pill) to Shareholder Vote - -------------------------------------------------------------------------------- STARWOOD HOTELS & RESORTS WORLDWIDE, INC. Ticker: HOT Security ID: 85590A203 Meeting Date: MAY 5, 2005 Meeting Type: Annual Record Date: MAR 17, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Charlene Barshefsky For For Management 1.2 Elect Director Jean-Marc Chapus For For Management 1.3 Elect Director Bruce W. Duncan For For Management 1.4 Elect Director Steven J. Heyer For For Management 1.5 Elect Director Eric Hippeau For For Management 1.6 Elect Director Steven Quazzo For For Management 1.7 Elect Director Thomas O. Ryder For For Management 1.8 Elect Director Barry S. Sternlicht For For Management 1.9 Elect Director Daniel W. Yih For For Management 1.10 Elect Director Kneeland C. Youngblood For For Management 2 Ratify Auditors For For Management 3 Amend Executive Incentive Bonus Plan For For Management 4 Provide for Confidential Voting Against For Shareholder 5 Expense Stock Options Against For Shareholder - -------------------------------------------------------------------------------- WESTCORP, INC Ticker: WES Security ID: 957907108 Meeting Date: APR 26, 2005 Meeting Type: Annual Record Date: MAR 11, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Judith M. Bardwick For For Management 1.2 Elect Director Robert T. Barnum For For Management 1.3 Elect Director James R. Dowlan For For Management 1.4 Elect Director Duane A. Nelles For For Management 1.5 Elect Director Ernest S. Rady For For Management 1.6 Elect Director Harry M. Rady For For Management 1.7 Elect Director Charles E. Scribner For For Management 1.8 Elect Director Thomas A. Wolfe For For Management 2 Change Company Name For For Management 3 Amend Omnibus Stock Plan For Against Management 4 Ratify Auditors For For Management - -------------------------------------------------------------------------------- WILLIAMS-SONOMA, INC. Ticker: WSM Security ID: 969904101 Meeting Date: MAY 18, 2005 Meeting Type: Annual Record Date: MAR 22, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director W. Howard Lester For For Management 1.2 Elect Director Edward A. Mueller For For Management 1.3 Elect Director Sanjiv Ahuja For For Management 1.4 Elect Director Adrian D.P. Bellamy For For Management 1.5 Elect Director Patrick J. Connolly For For Management 1.6 Elect Director Adrian T. Dillon For For Management 1.7 Elect Director Jeanne P. Jackson For For Management 1.8 Elect Director Michael R. Lynch For For Management 1.9 Elect Director Richard T. Robertson For For Management 2 Amend Executive Incentive Bonus Plan For For Management 3 Ratify Auditors For For Management - -------------------------------------------------------------------------------- WYETH Ticker: WYE Security ID: 983024100 Meeting Date: APR 21, 2005 Meeting Type: Annual Record Date: MAR 4, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Richard L. Carrion For For Management 1.2 Elect Director Robert Essner For For Management 1.3 Elect Director John D. Feerick For For Management 1.4 Elect Director Frances D. Fergusson For For Management 1.5 Elect Director Robert Langer For For Management 1.6 Elect Director John P. Mascotte For For Management 1.7 Elect Director Mary Lake Polan For For Management 1.8 Elect Director Ivan G. Seidenberg For For Management 1.9 Elect Director Walter V. Shipley For For Management 1.10 Elect Director John R. Torell III For For Management 2 Ratify Auditors For For Management 3 Approve Omnibus Stock Plan For For Management 4 Review and Report on Drug Reimportation Against For Shareholder Policy 5 Separate Chairman and CEO Positions Against For Shareholder 6 Report on Political Contributions Against Against Shareholder 7 Discontinue Promotion of Premarin and Against Against Shareholder Report on Animal Testing - -------------------------------------------------------------------------------- XILINX, INC. Ticker: XLNX Security ID: 983919101 Meeting Date: AUG 5, 2004 Meeting Type: Annual Record Date: JUN 7, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Willem P. Roelandts For For Management 1.2 Elect Director John L. Doyle For For Management 1.3 Elect Director Jerald G. Fishman For For Management 1.4 Elect Director Philip T. Gianos For For Management 1.5 Elect Director Harold E. Hughes, Jr. For For Management 1.6 Elect Director William G. Howard, Jr. For For Management 1.7 Elect Director Richard W. Sevcik For For Management 1.8 Elect Director Elizabeth Vanderslice For For Management 2 Ratify Auditors For For Management ================================================================================ 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. VOYAGEUR MUTUAL FUNDS III By: Jude T. Driscoll ------------------------ Name: Jude T. Driscoll Title: Chairman/President/ Chief Executive Officer Date: August 29, 2005